Cordasco Financial Network held its position in GlaxoSmithKline PLC (NYSE:GSK) during the second quarter, Holdings Channel reports. The institutional investor owned 5,313 shares of the pharmaceutical company’s stock at the end of the second quarter. Cordasco Financial Network’s holdings in GlaxoSmithKline PLC were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its position in GlaxoSmithKline PLC by 45.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,410 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 753 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in GlaxoSmithKline PLC by 1,747.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 2,359 shares during the period. Proficio Capital Partners LLC raised its position in GlaxoSmithKline PLC by 233.0% in the first quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock worth $122,000 after buying an additional 1,990 shares during the period. Heritage Trust Co bought a new position in GlaxoSmithKline PLC during the first quarter worth $123,000. Finally, Westwood Holdings Group Inc. raised its position in GlaxoSmithKline PLC by 15.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock worth $124,000 after buying an additional 400 shares during the period. 8.96% of the stock is currently owned by institutional investors.

GlaxoSmithKline PLC (NYSE GSK) opened at 42.75 on Monday. The firm has a market capitalization of $104.44 billion, a PE ratio of 48.14 and a beta of 1.05. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $45.58. The stock’s 50 day moving average price is $43.56 and its 200 day moving average price is $41.27.

GlaxoSmithKline PLC (NYSE:GSK) last announced its earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.62. GlaxoSmithKline PLC had a return on equity of 113.31% and a net margin of 5.48%. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.09 billion. Analysts expect that GlaxoSmithKline PLC will post $2.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Friday, May 12th were given a dividend of $0.483 per share. This represents a $1.93 dividend on an annualized basis and a dividend yield of 4.52%. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, May 10th. GlaxoSmithKline PLC’s payout ratio is presently 233.74%.

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A number of equities analysts have weighed in on the company. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday. Citigroup Inc. lowered GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 5th. Berenberg Bank upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Zacks Investment Research downgraded GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Finally, ValuEngine downgraded GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. GlaxoSmithKline PLC presently has a consensus rating of “Hold” and a consensus target price of $45.25.

About GlaxoSmithKline PLC

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

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Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

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